The tech sector selloff continued into the afternoon, with semiconductors dragging the Nasdaq Composite (IXIC) 281 points. President Donald Trump's note that he canceled an attack on Iran and a continuously rising 10-year Treasury yield is also dampening sentiment. The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are notably lower as well, while investors begin to gear up for tomorrow's highly anticipated earnings report out of Nvidia (NVDA).
- Another AI-focused cloud venture is brewing for Google.
- Analyst: SanDisk stock remains a good bet for bulls.
- Plus, put traders circle CARR; Shake Shack stock gets a boost; and manufacturing giant suffers a steep pullback.
Carrier Global Inc (NASDAQ:CARR) stock is down 4% to trade at $61.95, headed for a third-straight drop, falling with the broader market. CARR sports a 19% gain for 2026, but bear traders are flocking to the electronics name this afternoon. So far today, more than 10,000 puts have crossed the tape, 17 times the average daily pace. The June 54 put is seeing the most attention, with sell-to-open activity detected.
Pacing the New York Stock Exchange (NYSE) this afternoon is Shake Shack Inc (NYSE:SHAK), up 5.7% at $63.09 after a regulatory filing showed that six inside traders purchased $3.2 million worth in shares of the fast food chain. Earlier this month SHAK suffered a 28.3% post-earnings bear gap, with today's pop looking to pare back some of these losses, as SHAK carries a 22% deficit for 2026.
Optical equipment manufacturer Fabrinet (NYSE:FN) is near the bottom of the NYSE, last seen down 6.3% to trade at $656.02. While the catalyst for today's pullback is unclear, FN is on track for a third-straight daily drop and is shaving back some of its 47% year-to-date gain. The ascending 50-day moving average hovers just below, however, a long-term trendline of support for the shares.
